Mourant and South Square Litigation Forum 2019
23 September 2019
Last week we hosted our annual Mourant and South Square Litigation Forum in London to deliver an update on key developments in financial litigation and insolvency and restructuring.
The event was well attended by delegates from UK and US law firms, in-house counsel and insolvency practitioners. Mourant Partner, Jessica Roland, acted as co-chair alongside David Allison QC from South Square, with Mourant partners and litigation specialists Peter Hayden, Christopher Harlowe and Gordon Dawes delivering sessions throughout the conference. Guest speakers hailed from Weil, Gotshal & Manges, Memery Crystal and Fieldfisher.
The first panel focused on recent developments in economic torts. Speakers outlined the core economic torts of conspiracy, causing loss by unlawful means and inducing breach of contract, as well as the situations in which they would be appropriately used.
This was followed by a session on the no “reflective loss” rule which has come to the fore in corporate litigation over the last year as a defence for wrongdoers, both in English courts and offshore. Peter Hayden outlined the reflective loss issue which arose in the case of Primeo, a Madoff feeder fund.
The last panel session of the day saw speakers outline the latest legal developments in the offshore world, covering:
- - COMI and the recognition of foreign main proceedings;
- - the Rule in Gibbs - considered in Bakhshiyeva v Sberbank of Russia;
- - and the defence of “change of position” in claw-back claim and shareholders’ remedies, in particular the valuation of compensation to shareholders under section 238 of the Cayman Company law.
The forum rounded off with a keynote address from British journalist, author and Economics Editor of The Sunday Times, David Smith. His talk provided a sharp and entertaining insight into the broader economic backdrop to the cases discussed throughout the afternoon, as well as the outlook for Britain and Brexit.
We would like to thank all those who attended for continuing to make this such a successful event and we look forward to seeing you again next year.